
I’m worried about what's happening in the economy but I’m not panicking. Although headlines are steeped with disastrous news about the economy around the world, I try to keep calm and instead I have come up with a plan to cut back and save money. I’m more confident in executing this plan due to the
budget challenge I endeavoured a few months ago. With that challenge, I minimized spending for one month and at the end of that month I managed to save a few bucks, but what’s more important was that I became aware of my spending habits. I realized that I spent a lot of money on eating out and personal care, such as massages and personal products. Since that challenge, I’ve tried to be creative in how to stretch the dollar and have eliminated superfluous purchases. I’d like to share with you some ways to cut back and get the best bang for your buck:
1. Eat at home – I love to eat out, especially for sushi. I enjoy not just the food but the social aspect of eating. But I can enjoy a good meal and the company of my friends and family at home as well. And you don't have to cook all the courses either, make it a pot luck!
2. Organic, not always – I love my organic foods, however, I also realize that if I buy strictly organic, my grocery bill would be horrendous. So be selective. There are
certain foods that experts recommend to buy organic because of their high level of pesticide contamination, such as berries, apples, spinach and potatoes.
Also, shop around. In my city, I found a couple of excellent organic supermarkets that are cheaper compared to the ones in my neighbourhood.
3. Grow your own food – If you’re lucky enough to have a garden in your backyard, you can grow your own food and organically. For those of us who live in apartments and condos, there are community gardens available for only a few dollars a month. In the city of Toronto, for example, the cost of joining an existing
community garden range between $15 to $50 a month depending on the size of the plots (but some gardens are free). And you don’t have to grow just fruits and vegetables, you can grow herbs, flowers or habitats for butterflies and birds, etc.
4. Take public transit – Everyone knows how expensive gas is, so take the public transit whenever you can. In the city of Toronto, you can buy a monthly pass for $109, which gives you unlimited access to trains, streetcars and buses. I use my pass to go to appointments, run errands, do groceries, explore the city etc.
5. Walk, bike, skateboard, rollerblade – When I was preparing for my Inca Trail trek two years ago, I used to walk to and from work everyday. I not only got fit mentally and physically, I saved myself some money that I would’ve spent on using the public transit.
6. Public library – I enjoy reading books and and a lot of them! I used to frequent Chapters/Indigo bookstore or Amazon.com on a regular basis, and I could easily spend $50 a visit. During the budget challenge, I rediscovered the public library. As a kid, and throughout high school and university, I often found myself in the library for hours at a time but when I finished school I stopped going completely. Part of it was that I associated the library with school and since I didn’t really enjoy school a whole lot, I steered clear of the library altogether. Now, I love the library! Almost always they have the book that I want. And their online borrowing system allows you to easily check out a book, extend your borrowing period and get yourself on a wait list.
7. Recycled clothing – I love vintage clothing and I often find myself visiting second hand shops throughout the city. My favourites are old faded jeans, vintage leather jackets and handbags. A few years ago, I found a vintage chocolate brown rectangle shaped leather handbag with straight metal handles for $2! To this day, I get compliments on the bag.
8. Take care of your clothes – Gone are the days of shopping sprees, instead I buy clothes less and less frequently but when I do buy I spend a little bit more for quality. As a result of this (and a recent purging), my closet is a little light, and with less clothes I make sure that they last long. For example, I wash my clothes less often - as soon as I get home, I get out of my clothes and if they’re still fairly clean, I hang them up in my closet right away. Washing and drying your clothes frequently (and using detergents and fabric softeners containing harsh chemicals) can wear down the fibres much faster. Try eco-friendly products – better for your clothes and the environment!
9. Turn off the lights – There are many ways you can save right at home such as:
> Turn off the lights whenever you leave a room or don’t need them
> Run full loads of laundry whenever possible, use cold water to wash your clothes, hang your clothes to dry instead of using the dryer
> Install ceiling fans and use them to supplement or even as an alternative to air conditioning
> If you feel cold, put on a sweater instead of turning up the heat
Read other ways to conserve energy.
10. Yoga on the cheap – Let’s face it attending yoga classes can get a little expensive with each class costing $15 to $20 a pop (here in Toronto). Currently, I spend anywhere between $150 to $180 a month on yoga classes. Here are some ways of enjoying yoga on the cheap:
>Do it at home – There are many good yoga DVDs out there, such as those produced by
Gaiam. There are also wonderful yoga videos available on the Web – go to YouTube and search on the keyword “yoga” and you’ll get a plethora of how-to-videos. Also,
YogaToday.com offers free one-hour yoga class 7 days a week. The videos are set in Jackson Hole, Wyoming with breathtaking views of the mountains.
>Community/Karma class - Some yoga studios offer “community” class, which is taught by teachers-in-training. These classes can cost as little as $5 per class. Other studios offer “karma” class – it’s by donation and all proceeds go to charity.
>Multi-pass - Purchasing multiple passes can reduce the cost per class vs. buying single passes. At my studio, a drop-in class costs $20, but with the 10-class pass, it works out to be $15/class, and the 20-class pass reduces the cost-per-class to $14.
Introductory specials – Some studios offer introductory specials to new students. For example, at my studio, you get an unlimited pass for a week for only $20. Another studio near my work offers a $35 unlimited pass for 2 weeks.
>Special discounts – Some establishments offer discounts to students and seniors. Some studios also offer discounts to certain members of organizations such as ACTRA (Alliance of Canadian Cinema, Television and Radio Artists). Just ask!
>Gym – If you already go to a gym, you should inquire about classes that are included in your membership - most gyms offer yoga and pilates class.
>Community/Recreational Centres – Take advantage of your community centre or recreational centre. Some offer yoga for free or at a minimal cost. One caveat, make sure that the instructor is qualified and has proper certification.
So there you have it! I can easily list another 10 more, however, this blog post is getting too long as it is. What are some of the things you do to save money?
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